Originally Posted by Probe

Yes, they have to "Mark to Market", but in accounting, it is an opinion, even though they are supposed to be following the rules. Also, they can "settle" futures contracts early. Did DAL and UAL do this? I believe I read that UAL settled 2% of 2015 positions early and counted that towards 4th quarter earnings.

What is a little disturbing is how little coverage this is getting. DAL is claiming victory in operating income for the 4th quarter, even though they lost over 700 million when you include those pesky little special items like fuel hedges. 2 billion worth.

I did not see whether DAL settled their contracts early, or just had to account for the potential losses on their earnings report. Apparrantly their refinery purchase has been a disaster as well. In addition to needing hundreds of millions in refurbishment, they are spending millions in "ethanol credits" as their refinery is not capable of mixing ethanol.

I am trying to find the article I read a couple of days ago. It named LUV and DAL and how much they lost. It also mentioned 2 other anonymous airlines that have lost so much they are scrambling for collateral to post for the margin calls they are getting.

Nothing like loosing your arse in the middle of the biggest airline revenue boom in 20 years.

How is that fuels savings program going? Single engine taxi?